Datang Power to close five plants on environmental rules
Datang International Power Generation Co. will shut five plants in mainland to comply with environmental rules that give right to government to pernalize the companies for pullotion, the Beijing-based company said in a statement to the Hong Kong stock exchange today.
Hong Kong-listed generator will coperte with Tangshan government to gradually close five 50-megawalt generating plants from today which providing thermal energy to residents and users in the Tangshan region and covering an area of about 14 million square meters (5.4 million square miles).
As second-largest energy user in the world, China has ordered to close some small and inefficient plants to curb environmental pollution.
Datang Power shares climbed 1.4 percent to HK$8.12 in Hong Kong at 9:58 a.m. The stock closed 6.4 percent lower at HK$8.01 yesterday.
`The company will strictly comply with and pro-actively execute any policies, rules and requirements issued by the State Environmental Protection Administration,'' the statement said. Datang Power will meet the requirements ``as soon as practicable.''
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